Pundits are still confused with LFPR and stagnant wages.
Job headlines strong, but labor force participation and wages slide
In addition to November's 321K job gain being revised higher to 353K, October's print is upped to 261K from 243K. That's 50K in upward revisions in addition to the 253K December job gain which modestly beat estimates.
The unexpected fall in headline unemployment to 5.6% comes alongside a drop in the labor force participation rate to 62.7% from 62.9%. The employment to population ratio held steady at 59.2%.
The average workweek is unchanged at 34.6 hours and average hourly earnings fell by a nickel to $24.57. On a year-over-year basis, average hourly earnings are hier by 1.7%.
The broader U-6 unemployment rate fell to 11.2% from 11.4% One year ago, it was 13.1%.
This past 20 months or 3 months have been one of the wildest I can recall in SF bay area.
Yesterday, my thermometer under the awning read 72 degrees; this morning, 5 AM, it showed 47 degrees.
Thanks to Obama in focusing on job creation, education, energy and healthcare initiatives:
Initial Jobless Claims
Initial Jobless Claims: -4K to 294K vs. 290K consensus, 298K prior (revised from 298K).
Continuing Claims +101K to 2.45M.
A report yesterday showed companies added more workers than forecast in December, as the pickup in household spending drove economic expansion and boosted corporate headcounts. ADP Research Institute recorded a 241,000 increase in employment, the biggest since June.
Labor Department figures tomorrow are projected to show payrolls climbed by 240,000 in December, which would the gain in employment for all of 2014 at 2.89 million, the most since 1999, according to the median estimate of economists surveyed by Bloomberg. The jobless rate is forecast to drop to 5.7 percent, making it the lowest since June 2008.
The wrinkle in the jobs picture could come from the energy industry, which faces consolidation and workforce cuts as oil prices decline. Halliburton Co. (HAL), the world’s second-largest oil services company, said on Dec. 11 that it plans to dismiss 1,000 employees worldwide.
EconomyUnemployment rate in Germany falls to record low
Financial Times-5 hours ago
Germany's unemployment rate for December came in at a better than expected 6.5 per cent, down from 6.6 per cent in November. Economists ...
The labor market ended 2014 on a strong note, payroll processor ADP said Wednesday, as businesses added 241,000 jobs in December.
Economists expected ADP to report 225,000 new private sector jobs. They estimate the Labor Department's closely watched survey this Friday will show 240,000 payroll gains by businesses, as well as federal, state and local governments.
Big problem as well dressed white men fleecing the older town folks and those delinquents from Googlers and Facebookers are invading the hood:
ATHERTONTuscaloosa Avenue, 4:28 p.m. Monday A resident who allowed a plumber into her house, a male in disguise who claimed her water was contaminated and that he needed to run the taps inside, discovered cash and jewelry missing after he left.
2014-12-18 2:40:38 P.M.
ATHERTON195 Encinal Ave., 12:51 p.m. Nov. 3 Two San Jose men, ages 20 and 39, were arrested -- one at Encinal School following a fight with a witness and the other in Menlo Park -- on burglary charges.
2014-11-10 1:01:00 P.M.
Think I had accomplished the 2014 resolution. For 2015, who cares about the new year ... everyday is another day. What's to happen happens no matter what, and after living over half a century, forget change for the better: I am what I am.
I have gone through more new years than care to count. Like Popeye said. I am what I am. I won't be me without the experience of anyone of those prior years. I am looking forward to many more new years to come. Enjoy yours.
The Standard & Poor’s 500 Index closed 2014 at 2,058.90, with an 11 percent gain.
Also from Bloomberg pundits:
Fewer Americans filed applications for unemployment benefits in 2014 than at any time in 14 years as the economic expansion strengthened.
An average 308,500 workers a week filed jobless claims this year, the least since 299,600 in 2000, according to figures from the Labor Department in Washington. Applications climbed by 17,000 to 298,000 in the week ended Dec. 27, more than projected, displaying the typical year-end holiday swings.
Other reports today showed consumer confidence had its best year since 2007, manufacturing in the Chicago region kept chugging ahead and home sales signaled a rebound in coming months, indicating the world’s largest economy is poised to pick up in 2015. The improvement will probably be driven by gains in hiring that are leading to bigger paychecks.
and those who are all in the market outside of miners, precious metals and oil.
May 2015 finally start the trickle down process after nearly 7 years of zero interest rate Wall Street rescue by the fed.
After HP bought the land from Varian in the early 1970s, much of what Jones remembers -- the acres and acres of apricots, the rambling farmhouse -- gave way to an office park. The company was growing like a weed, having just entered the computer business. But it never encroached on the barn.
HP prepared the barn for the future, reconditioning it, replacing the roof and laying a new concrete foundation, says Ed Miller, who was then the company's computer manufacturing manager. Once spruced up, the 1,900-square-foot barn became a focal point of company social life, the site of the annual picnic, retiree reunions and frequent "beer busts," says Mahoney, the former Cupertino mayor, who spent most of his 35 years at HP working on the Cupertino campus.
Before Jobs publicly detailed plans for Apple Campus 2, Mahoney and other public officials got a glimpse of a model. After a briefing by Apple CEO Tim Cook, then the company's chief operating officer, Mahoney says he had one overriding concern: What about the barn?
Cook reassured Mahoney that Apple was well aware of the historic barn but still figuring out the best place for it. Planners ultimately settled on placing the barn near the new Apple fitness center, a place that's sure to be a hub for employees -- and still in public view.
Long retired from HP, Miller, an 82-year-old Los Altos resident, had not heard what would become of the barn after his company sold the land. He was relieved to hear the spaceship and the barn can coexist.
“To each officer and soldier in the Third United States Army, I wish a Merry Christmas. I have full confidence in your courage, devotion to duty, and skill in battle. We march in our might to complete victory.
“May God’s blessings rest upon each of you on this Christmas Day.- G.S. Patton, Jr., Lieutenant General Commanding, Third United States Army.”
Almighty and most merciful Father, we humbly beseech Thee, of Thy great goodness, to restrain these immoderate rains with which we have had to contend. Grant us fair weather for Battle. Graciously hearken to us as soldiers who call upon Thee that, armed with Thy power, we may advance from victory to victory, and crush the oppression and wickedness of our enemies and establish Thy justice among men and nations.
Twas the night of Thanksgiving and out of the house
Tiger Woods came a flyin', chased by his spouse.
She wielded a nine iron and wasn't too merry,
Cause a #$%$'s phone number was in his Blackberry.
He'd been cheatin' on Elin, and the story progressed.
Woman after woman stepped up and confessed.
He'd been cheatin' with Holly, and Jaimee, and Cori,
With Joselyn, and Kalika. The world had the story.
From the top of the Tour to the basement of blues,
Tiger's sad sordid tale was all over the news.
With hostesses, waitresses, he had lots of sex,
When not in their pants, he was sendin' them texts.
Despite all his cryin' and beggin' and pleadin',
Tiger's wife went investin' -- a new home in Sweden.
And I heard her exclaim from her white Escalade,
"If you're gettin' laid then I'm gettin' paid."
She's not pouting, in fact, she is of jolly good cheer,
Her prenup made Christmas come early this year.
and they read comics, boondock, Calvin & Hobbes:
Calvin: Well. I've decided I do believe in Santa Claus, no matter how preposterous he sounds.
Hobbes: What convinced you?
Calvin: A simple risk analysis. I want presents. Lots of presents. Why risk not getting them over a matter of belief? Heck, I'll believe anything they want.
Hobbes: How cynically enterprising of you.
Calvin: It's the spirit of Christmas.
Calvin and Hobbes strip by Bill Watterson
They listen to dead people sing of White Christmas and watch The Simpsons; they are believers:
If TV has taught me anything, it's that miracles always happen to poor kids at Christmas. It happened to Tiny Tim, it happened to Charlie Brown, it happened to the Smurfs, and it's going to happen to us.
SCHIZOPHRENIA - Do You Hear What I Hear?
MULTIPLE PERSONALITY - We Three Kings Disoriented Are.
DEMENTIA - I Think I'll Be Home For Christmas.
NARCISSISTIC - Hark The Herald Angels Sing (About Me)
MANIA - Deck the Halls and Walls and House and Lawn and
Streets and Stores and Office and Town
. . . or Deck the Halls and Spare No Expense!
PARANOIA - Santa Claus is Coming To Get Me.
PERSONALITY DISORDER - You Better Watch Out, I'm Gonna Cry,
I'm Gonna Pout, then MAYBE I'll tell you why.
OBSESSIVE COMPULSIVE - Jingle Bell, Jingle Bell, Jingle Bell
Rock, Jingle Bell, Jingle Bell, Jingle Bell Rock, Jingle
Bell, Jingle Bell,
Jingle Bell Rock, Jingle Bell, Jingle Bell, Jingle Bell
Rock, Jingle Bell, Jingle Bell, Jingle Bell Rock, Jingle
Bell, Jingle Bell, Jingle Bell Rock, Jingle Bell, Jingle
Bell, Jingle Bell Rock, Jingle Bell, Jingle Bell,
Jingle Bell Rock, Jingle Bell . . .
BORDERLINE PERSONALITY - Thoughts of Roasting in an Open
PASSIVE AGGRESSIVE - On the First Day of Christmas My True
Love Gave to Me (and then took it all away).
One Christmas Eve, a frenzied young man ran into a pet shop looking for an unusual Christmas gift for his wife. The shop owner suggested a parrot, named Chet, which could sing famous Christmas carols. This seemed like the perfect gift. "How do I get him to sing?" The young man asked, excitedly. "Simply hold a lighted match directly under his feet." was the shop owner's reply.
The shop owner held a lighted match under the parrot's left foot. Chet began to sing: "Jingle Bells! Jingle Bells! ..." The shop owner then held another match under the parrot's right foot. Then Chet's tune changed, and the air was filled with: " Silent Night, Holy Night..."
The young man was so impressed that he paid the shop-keeper and ran home as quickly as he could with Chet under his arm. When the wife saw her gift she was overwhelmed.
"How beautiful!" She exclaimed, "Can he talk?" "No," the young man replied, "But he can sing. Let me show you." So the young man whipped out his lighter and placed it under Chet's left foot, as the shop-keeper had shown him, and Chet crooned: "Jingle Bells! Jingle bells!..." The man then moved the lighter to Chet's right foot, and out came: "Silent Night, Holy night..."
The wife, her face filled with curiosity, then asked, "What if we hold the lighter between his legs?" The man did not know. "Let's try it," he answered, eager to please his wife. So they held the lighter between Chet's legs. Chet twisted his face, cleared his throat, and the little parrot sang out loudly like it was the performance of his life: "Chet's nuts roasting on an open fire...."
Santa was really #$%$, NOTHING was going right. Mrs. Claus had burnt the Christmas cookies, the elves were complaining about not getting paid for the overtime they had put in while making toys, and the reindeer had been
drinking all afternoon and were dead drunk.
They had taken the sleigh out for a spin earlier in the day and crashed it into a tree, breaking off one of the runners.
Santa was beside himself with anger. "I CAN'T believe it! I've got to deliver millions of presents all over the world in just a few hours from now and all my reindeer are drunk and my elves are on strike. I don't even have a Christmas tree! I sent that stupid Little Angel out HOURS ago to find a tree and he isn't even back yet! What am I going to do?"
Just then the Little Angel opened the front door and stepped in from the snowy night, dragging a Christmas Tree.
He said, "Yo, Big Fat Man, where do you want me to stick the Christmas Tree this year?"
And that's how the tradition of the Angel being perched on top of the Christmas tree came to pass...
How about this Christmas classic:
Three men die in a car accident Christmas eve. They all find themselves at the pearly gates waiting to enter heaven. On entering they must present something Christmassy.
The first man searches his pocket, and finds some mistletoe, so he is allowed in.
The second man presents a cracker , so he is also allowed in.
The third man pulls out a pair of panties.
Confused at this last gesture , St. Peter asks "how do these represent Christmas?"
Answer "they're Carol's."